Part 2A of Form ADV: Firm Brochure Item 1 Cover Page ROCHDALE ...

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Item 7 Types of Clients Rochdale’s clients consist primarily of individuals and pooled investment vehicles, such as the RIT Fund and the Alternative Funds. Other clients include institutional clients, such as pensions and profit sharing plans, charitable organizations and a limited number of municipalities. Rochdale generally requires a minimum of $1,000,000 of assets under management for a separately managed relationship, but may waive this minimum in its sole and absolute discretion. If the account size falls below the minimum requirement due to market fluctuations only, a client will not be required to invest additional funds with the Adviser to meet the minimum account size. With respect to investments in the RIT Funds or Alternative Funds, initial and additional subscription minimums are disclosed in the offering documents relating to such funds. The Adviser may request clients to provide proof of authority, directed trading letters, qualified client or qualified purchaser status, accredited investor certifications, and/or other information to allow the Adviser to manage client assets. 7
Item 8 Methods of Analysis, Investment Strategies and Risk of Loss A. Methods of Analysis and Investment Strategies The Adviser utilizes a variety of methods and strategies to make investment decisions and recommendations. These methods entail an evaluation of investment opportunities using fundamental, technical, quantitative and qualitative analyses to determine the intrinsic value of securities and other types of instruments. The Adviser employs the following investment strategies: Dynamic Equity Risk Management. The Adviser engages in a Dynamic Equity Risk Management investment strategy wherein the Adviser is allowed to manage excessive and extreme risk as it relates to individual client risk profiles. The Adviser manages portfolio risks proactively to avoid historical Buy & Hold traps. As well as relating client specific Investment Policy Statement goals to Rochdale’s portfolio strategy, recession monitor and fundamental outlook Equity. The Adviser’s equity strategy focuses on a broad range of equity investment styles, including growth, core, and value, as well as portfolios designed to be “style-neutral”. Some client accounts focus on specific ranges on the capitalization scale, from micro-cap, through small-cap, mid-cap and large-cap, to mega-cap. Other client accounts will focus on investment opportunities in more than one capitalization category or across all capitalization levels. Fundamental Value. The Adviser engages in a fundamental value investment strategy wherein the Adviser attempts to invest in asset-oriented securities the Adviser believes are undervalued by the market. Growth. The Adviser engages in a growth investment strategy wherein the Adviser attempts to select securities of a company whose earnings the Adviser expects to grow at an above-average rate compared to the company’s specific industry or the overall market. Hedging. The Adviser utilizes a variety of financial instruments such as derivatives and options for risk management purposes. Relative Value. The Adviser pursues relative value strategies by taking long positions in securities believed to be undervalued. High Dividend and Income. The Adviser pursues high dividend and income strategies by taking long positions in company with high dividend growth potential. Galaxy TM . The Adviser using a proprietary modeling system to design asset allocation models specific to clients risk return requirements. Please refer to Item 4 in this Brochure for a discussion of Galaxy. TM These methods, strategies and investments involve risk of loss to clients and clients must be prepared to bear the loss of their entire contribution/investment. B. Material Risks (Including Significant, or Unusual Risks) Relating to Investment Strategies Issuer-Specific Changes. Changes in the financial condition of an issuer or counterparty, changes in specific economic or political conditions that affect a particular type of security or issuer, and changes in general economic or political conditions can increase the risk of default by an issuer or counterparty, which can affect a security’s or instrument’s value. The value of securities of smaller, less well-known issuers can be more volatile than that of larger issuers. Smaller issuers can have more limited product lines, markets, or financial resources. Relative Value Risk. In the event that the perceived mispricings underlying the Adviser’s relative value trading positions were to fail to converge toward, or were to diverge further from, relationships expected 8
Page 1 and 2: Part 2A of Form ADV: Firm Brochure
Page 3 and 4: Item 3 Table of Contents Item 1 Cov
Page 5 and 6: RATROF and RRROF (“Alternative Fu
Page 7 and 8: Item 5 Fees and Compensation A. Adv
Page 9: Item 6 Performance-Based Fees and S
Page 13 and 14: additional risks such as limited li
Page 15 and 16: Item 10 Other Financial Industry Ac
Page 17 and 18: agency cross transaction, there is
Page 19 and 20: client accounts. Rochdale does not
Page 21 and 22: Item 13 Review of Accounts A. Frequ
Page 23 and 24: Item 15 Custody Custody of all Acco
Page 25 and 26: RIM executes transactions for the m
Page 27 and 28: Item 18 Financial Information This
Page 29 and 30: Part 2A Appendix 1 of Form ADV: Wra
Page 31 and 32: Item 3 Table of Contents Item 1 Cov
Page 33 and 34: Next $1,000,000 to 1.00% $1,000,000
Page 35 and 36: above, securities transactions will
Page 37 and 38: Item 6 Portfolio Manager Selection
Page 39 and 40: fees for such services. Rochdale ma
Page 41 and 42: Item 7 Client Information Provided
Page 43 and 44: Item 9 Additional Information Disci
Page 45 and 46: well as the month-end market value,
Page 47 and 48: Item 1 Cover Page Part 2B of Form A
Page 49 and 50: Item 1 Cover Page Garrett R. D’Al
Page 51 and 52: Item 5 Additional Compensation As a
Page 53 and 54: John T. Buckley, CFA (Year of birth
Page 55 and 56: David M. Coiro (Year of birth - 194
Page 57 and 58: Neal Rubin (Year of birth - 1956) I
Page 59 and 60: Jeffrey L. Gage, AIF® (Year of bir
Page 61 and 62:
Ted Cox, CFA (Year of birth - 1966)
Page 63 and 64:
John T. Fulgham, AIF® (Year of bir
Page 65 and 66:
Kashif S. Ahmad, CFA (Year of birth
Page 67 and 68:
Harry Martin, AIF® (Year of birth
Page 69 and 70:
Derek A. Roy, AIF® (Year of birth
Page 71 and 72:
Jonathan Doyle, CIMA® (Year of bir
Page 73 and 74:
Kevin Barlow (Year of birth - 1982)
Page 75 and 76:
Paul Guerney, CFA (Year of birth -
Page 77 and 78:
Poul Erik Olsen, CFA (Year of birth
Page 79 and 80:
Charles P. Alberton, CFA, CAIA (Yea
Page 81 and 82:
Item 1 Cover Page Elizabeth T. Dool
Page 83 and 84:
Item 1 Cover Page Sheldon C. Branda
Page 85 and 86:
Item 1 Cover Page John Geraghty Mar
Page 87 and 88:
Item 1 Cover Page Robert DeLong Roc
Page 89 and 90:
Item 1 Cover Page Adam Elover March
Page 91 and 92:
Item 1 Cover Page Thomas A. Galvin
Page 93 and 94:
Item 1 Cover Page Lindsey Cook Marc
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Part 2A of Form ADV: Firm Brochure Item 1 Cover Page ROCHDALE ...

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